According to business executives, RAK Ceramics (Bangladesh) would invest Tk 95 crore to build a bathroom fittings plant with the ability to create 1,500 faucets, shower heads, and all other relevant accessories in an effort to offer less expensive alternatives to imports.
On Thursday, the listed international ceramics company announced its choice in a filing with Dhaka Stock Exchange (DSE), which is in line with its earlier intention to enter the tile market.Read more
RAK Ceramics stated at the beginning of last month that it would invest Tk 902 in a new greenfield building to increase its tile production capacity by 15,000 square meters daily.
The company secretary of RAK Ceramics, Muhammad Shahidul Islam, stated, “since Bangladesh has enormous potential in the coming days, we decided to raise production and gain a bigger share of the market.”
“We will now manufacture all bathroom accessories. We’ll shortly begin construction of the factory, and it might take close to a year before manufacturing starts,” he added.
Islam continued by saying that although people prefer imported goods that are much more expensive and of higher quality, the majority of locally produced bathroom accessories are now of substandard quality.
RAK Ceramics therefore attempts to offer substitutes for these imports so that customers can obtain high-quality goods at reasonable pricing.